Germany March GfK consumer confidence -24.7 vs -21.4 expected

• Prior -22.4; revised to -22.6

German consumer sentiment worsened going into March with income expectations being a drag, falling to a 13-month low. That once again reaffirms the weight of higher prices alongside political uncertainty and the ongoing recession in the manufacturing sector. Adding to that, households' willingness to buy also fell to its lowest since June last year. Pain.